Dec 242008

A few days back I mentioned that Rs.324 was an important level for this stock, and a break past that will expose Rs 408.  We ran into some good selling around the 324 level, and we are correcting down now. Here is an update, with two charts.




  6 Responses to “Technical analysis of DLF, India : a follow up”

  1. You are saying that no buying is advised till a 50% retracement is seen in the stock from the recent high of Rs.324/- (i.e. around Rs.245 levels.

    My question is the stock worth selling if it is not good for buying! Not that I want to compulsorily trade on this. But, this is just a question for knowledge. If it is not good for buying why it is not advised for selling?


  2. Hello RS, May I suggest that you revisit the earlier post on DLF on 21 Dec 2008 where I suggested that if one were caught short he should buy the stock on a dip to 270. We dipped to 260 and have reached 305. The risk was more skewed to the upside,which is why a sell was not recommended.

  3. Mr Ramki,

    Thanks to Satyam saga, DLF has followed suit and has come down to Rs.185/-.

    Whats your take now?

    R Sathyamurthy

  4. ramki , i read ur comment on DLF and i am interested. what is ur present on this stock. i purchased it at 481

    • HI JanakiRam,
      This stock looks really weak. I’d be happy to get out of a good portion of my investment in DLF at any price around 348/353 as there is a reasonably good chance for a move down to 275 or lower.

  5. HI RS, regarding DLF, after declining from 326 all the way to 144, we are currently at 213. I think we will have a hard time getting above 230, certainly 260 will be formidable. I will not suggest buying this stock for now. Ramki

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